Brazil's National Port Authority and Waterways has approved 1.73bn dollars in port infrastructure works to be carried out by three local operators: steelmaker CSN, container terminal operator Santos Brazil and US food and agribusiness firm Archer Daniels Midland Company (ADM).
With the investments, CSN will extend its Itaguaí port terminal concession contract in Rio de Janeiro state and Santos Brazil will extend its Santos port contract in São Paulo state to 2047 from the original expiration date of 2022, local media reported.
CSN's $1.1bn project involves expanding its Tecar solid grain terminal with plans to export iron ore. Work should be completed in 2016.
Santos Brazil is planning two projects for a total of 530m at its Tecon terminal. One involves extending piers to 1,200 m from 980 m and the other entails deepening the berthing area to 15 m from 13 m. Works are expected to complete by 2018. According to the company, another 840m will be invested by 2044 to replace aging equipment, the report said.
Meanwhile, ADM will invest 88.5m in various updates to its solid grain terminal at Santos port. Its lease will be extended to 2037 from 2017. The agreements still need a final seal of approval from the Special Ports Department SEP, which has already signalled that it intends to approve the arrangements.
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They will need it big, and deep,Aug 23rd, 2014 - 06:13 pm 0
for when the royal navies aircraft carrier make a visit..
Once again, investments to improve Brazil's infrastructure come from the private sector. If they were to wait for the government to do its job properly, forget it. Even after ex-prez Lulasshole earmarked approximately US$ 350 billion for 2(two) nationwide investment programs , to be completed within a period of 10 years - the infamous PAC's 1 and 2 - 7 years later there's virtually little or nothing to show for it.Aug 23rd, 2014 - 11:03 pm 0
Despite the roughly 1,5 trillion dollars the government collects in taxes annually, they never seem to have enough money to spend on productive investments. Once they've squandered all the taxpayers money, they decide it might wiser to hand the problems over to the private sector to solve.. For the seaports and terminals this has been true for just about as long as I can remember, and the most recent example of this government screwing up, was when they realized they would never meet the deadlines for the completion of the airport infrastructure, for the World Cup. The private sector was called in and saved Dilma's ass. Unfortunately.
Word Jack.Aug 24th, 2014 - 02:10 am 0
The Brasilians will in deed be getting it 'big and deep' right up their posteriors by the very people they elected.